Palm Beach County gives initial OK to $4.5 billion spending plan-What it means for you

Palm Beach County Commissioners gave initial approval to a $4.5 billion budget plan which will be brought before public hearings scheduled for Sept. 5 and Sept. 18. Commissioners must give final approval to the tax rate and budget before the start of the fiscal year on Oct. 1.

Exactly what does the potential new budget mean for Palm Beach County homeowners?

Higher tax bills for homeowners

Even though the spending plan would hold the property tax rate for the operating budget steady at $4.78 per $1,000 of taxable value for the seventh year in a row, rising property values will mean that homeowners will pay more.

Due to the increased property values(assessments), the rate will likely generate about $55 million more than the previous year.

Owners of second homes(since they will not have a homestead exemption), rentals and commercial properties would see their bills rise the most. A $350,000 vacation home that grew in value by the average of 5.71 percent, the increase in county property taxes would be about $96, not including taxes paid for school, city and other services.

Homeowners with a homestead exemption won’t see quite as much of an increase. Their increase would be capped at 2.1 percent. For the owner of a $350,000 home with a $50,000 homestead exemption, the increase in property taxes would be about $35.

Commissioners claim the extra revenue is needed to offset a possible extra tax break for homeowners that is still not approved. The tax break in question could be approved by voters next year.

Voters will have the opportunity to approve an additional $25,000 homestead exemption in the November 2018 election. The new exemption would mean an average tax break of $275 for homeowners, but would potentially leave the county with a $50 million budget deficit by the 2020 budget year.

Commissioner Paulette Burdick added, “We here in Palm Beach County have become used to a standard that we want to live by,” she continued, “Sometimes you have to pay for things you want to have.”

2. The sales tax stays at 7 cents per dollar

Palm Beach County residents started paying more in sales tax on Jan. 1, 2017, when voters approved raising the county’s sales tax rate from 6 cents per dollar to 7 cents. The increase, which is on track to bring about $2.7 billion over the next decade, will be allotted to repair aging roads, bridges and schools. The county receives 30 percent of those funds, with the school system getting half and the cities sharing the last 20 percent.

3. Increased Sheriff’s Department deputies and staff

Sheriff Ric Bradshaw plans to hire 15 new deputies in 2018 with a total of 100 new patrol deputies over the next three years. Bradshaw cites population growth for the staffing needs.

4. Money to help combat the opioid crisis

Commissioners faced a challenge that has plagued Palm Beach County – the opioid epidemic. With treatment centers marketing the picturesque locale, almost 600 overdose deaths were recorded in the county in 2016 alone. Earlier this year, the commission retrieved $1 million from reserves for the costs related to the opioid death toll.

Additionally, $2 million of the newly proposed budget would be direct toward the opioid crisis.

5. County staff raises and additional hires in key positions

For the fourth consecutive year, employees will get a 3 percent raise.

A total of 50 new positions in: engineering, airports, water utilities, fire rescue, building division, fleet management, libraries and economic sustainability.

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